Adrian Covert

In an attempt to weather the looming financial apocalypse, Sony will lay off 16,000 workers and close five or six factories, according to Forbes. Sony believes the decision will help them save one billion dollars and stay competitive in the next fiscal year. Forbes says part of the reason Sony faces an uphill battle is because they're getting stomped by Apple in the portable audio department. The other part, presumably, is because they're getting stomped by capitalism. [Forbes]